Now that the groundhog saw his shadow, it’s time to recommit to getting your financial house in order. Here are five things that you should be doing now to keep your 2022 finances on track:

Start saving for retirement

If you aren’t saving anything for retirement right now, then it’s time to enroll in the retirement plan offered by your employer.

Pay off your credit card debt

If you have high-interest debt on credit cards, pay this off before anything else. Those who carry large balances on their credit cards damage their credit. First, the credit rating agencies don’t like to see large card balances, mainly when most or all of the available credit limit is used. Furthermore, the amount of interest that credit card companies charge leaves you less money to pay off the principal or other debt.

Start a college education fund

If you have not begun saving for your kids’ education yet, now is to start. If you can even save enough to get them through a year or two of college, that will drastically cut down on the amount of loans they will need to finish school.

Create a budget

This may be the most important resolution because it can help you follow through on all of your other resolutions. Knowing where all of your money goes can help you start spending and saving your money much more efficiently and control your financial future. Several websites and programs can help you do this. Budget programs can also send you email alerts reminding you of upcoming bills and amounts due at irregular intervals.

Get crypto off centralized exchanges

The past week in crypto has been downright brutal for many, and to add more salt to the wound, you had rumors and speculation come out that a popular centralized exchange would not be able to pay your crypto if it does liquidate. Whether this rumor is true, it’s a stark reminder of the number one rule that everyone in crypto should adhere to: “not your keys, not your crypto.” Therefore, If you have crypto on centralized exchanges, you should consider moving the crypto to cold storage solutions.

Thank you for reading and hope you have a good rest of the day!

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